partner contribution
kanamarlapudi venkatesh (articles student) (113 Points)
12 July 2018
whether a partnership firm can accept contribution from it's partner in cash
1 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 12 July 2018
Yes, there is no express prohibition on accepting partner's contribution in cash as section Section 269SS, read with section 271D, of the Income-tax Act, 1961 doesn't applicable on it.
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